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ADMINISTRATIVE
COMMITTEE |
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9. |
RECEIVE AND FILE THIRD
QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2006-07 |
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Meeting
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June 12, 2006 |
Budgeted: |
N/A |
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From: |
David A.
Berger, |
Program/ |
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General
Manager |
Line Item No.: |
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Prepared
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Cost Estimate: |
N/A |
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General Counsel Approval: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on June 12, 2006 and recommended ____________________. |
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CEQA Compliance: N/A |
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SUMMARY: March 31, 2006 marked the conclusion of the third quarter of fiscal year 2006-07. Bar graphs comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibits 9-A and 9-B. Exhibit 9-C presents the same information in a table format. The following comments summarize District staff's observations:
REVENUES
Permit revenues in the amount of $185,422 were about 10% under budget, while connection charges in the amount of $441,666 were about 14% over the amount budgeted due to continued higher than anticipated activity. Interest revenues of $64,141 for the period were approximately 43% over budget due primarily to increased interest rates and higher than anticipated reserves. User fees revenues in the amount of $1,399,557 were approximately 21% under the budgeted amount due to the fact that the year-to-date revenue does not include receipts for the month of March. Also, the California Public Utilities Commission has not yet ruled on Cal-Am’s pending rate increase request that will be retroactive to January 1, 2006. The first installment of property tax revenues in the amount of $533,133 was received during this period. No grant funds were actually received as of the end of the third quarter. Project reimbursements of $14,873 were only approximately 8% of the amount budgeted for the period, mostly due to pending increased conservation measures awaiting the decision on Cal-Am’s rate increase. The “Other” category revenues were $46,009 or about 26% over budget due to unanticipated miscellaneous revenues. Overall, total revenues received during the first nine months of the fiscal year totaled $2,717,801, which represented 72% of revenues budgeted for the same period.
EXPENDITURES
Expenditure activity as depicted on the expenditure graph is similar to patterns seen in past years. Personnel expenditures of $2,005,440 were about 99% of budgeted amount. Expenditures for supplies and services amounted to $1,573,346 or about 12% percent over the budgeted amount. Capital assets purchases totaled $6,540 or only 13% of the budgeted amount. Included in this category is $50,000 for the conference room upgrade, and it is anticipated most of those funds will be expended by the end of the fiscal year. Outlay for Project expenditures were $318,839 representing 28% of the amount budgeted for the period. Election expenses of $118,545 were incurred and paid during the period. The Contingencies/Reserves category, which consists of a $73,050 contingency, had no expenditures during this period. Overall, expenditures of $4,774,875 for the nine months of the fiscal year totaled approximately 84% of the amount budgeted for the same period.
9-A Revenue Graph
9-B Expenditure Graph
9-C Revenue and Expenditure Table
U:\staff\word\committees\Admin\2006\20060612\09\item9.doc